Ascent Group LLC Has $2.77 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Ascent Group LLC increased its holdings in American Tower Corporation by 21.4%, owning 12,741 shares worth approximately $2.77 million as of the end of the quarter.
• Several institutional investors also adjusted their stakes in American Tower, with a combined total of 92.69% of the stock owned by hedge funds and institutions.
• American Tower reported a net margin of 12.60% for the quarter, with quarterly revenue of $2.63 billion, surpassing analyst expectations.

Ascent Group LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 21.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,741 shares of the real estate investment trust's stock after purchasing an additional 2,247 shares during the period. Ascent Group LLC's holdings in American Tower were worth $2,772,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. North Capital Inc. acquired a new position in American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the first quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMT shares. Royal Bank Of Canada raised their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective for the company. in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower Stock Performance

NYSE:AMT traded down $1.28 during mid-day trading on Friday, hitting $195.27. 3,096,397 shares of the stock were exchanged, compared to its average volume of 2,747,762. The stock has a market capitalization of $91.43 billion, a price-to-earnings ratio of 71.01, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The firm's 50-day simple moving average is $210.83 and its 200 day simple moving average is $213.52. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $241.97.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.